How Much Money Should Be Spent On Facebook Advertising?

With any form of online advertising you must follow certain rules to increase your ROI. It doesn’t matter how much you spend on advertising, the bottom line is that if you aren’t getting a good return then you need to change things up. Facebook advertising is one of the many ways that online companies nowadays market their businesses. You too can make use of this marketing channel, and here are some tips that must be used to prevent your spending from getting out of control.

Get More Relevant Likes

On Facebook, one of the hardest things to make work is doing the cold sell. People on Facebook are typically there to socialize with their friends and family – not buy products. However, when you post content that appears in the news feeds of your Facebook followers then you can have a much higher success ratio. Therefore, you need to increase your relevant likes, and to do that costs money. The amount of relevant likes you are able to generate will depend on the quality of your brand. The better your online reputation the cheaper each like will cost. In most cases, you can expect to pay between $0.2 and $1 for each Facebook like. Just make sure to get relevant likes as A Jon Loomer contributor suggests:

Relevant is the key word here. Don’t go out looking to see how inexpensively you can get Likes by focusing on irrelevant countries. Yes, you can get insanely cheap Likes, but they won’t lead to more business.

Overall, paying for Facebook likes is not going to cut deep into your marketing budget no matter how small it is. In fact you can get a decent amount of likes for $100 per month, which can turn into a decent volume of sales. However, if you do see decent results then scale up by investing in a higher volume of likes.

Promoting Posts

One of the most underused features of the Facebook marketing toolkit is the promoting posts feature. Here as the name suggests you can create a post and spread it throughout the Facebook platform. It will appear in the news feeds of the Facebook users, and the number of people which end up seeing it depends on the quality of your post and the amount you are willing to pay for the promotion. The promotion posts feature is very clever because it knows when to put the post into the news feeds of your potential customers. Andrea Vahl from Social Media Examiner explains more:

EdgeRank is Facebook’s news feed algorithm for determining what is shown to people based on weight, affinity and time. Promoted Posts are a way to push posts more prominently into people’s news feeds.

The EdgeRank algorithm allows your posts to get maximum return on the amount of money which you spend. There are also a lot of budget related featured that allow you to control how long the post will be live. This allows you to control the costs of your campaign much more efficiently. Furthermore, the quality of your post will determine your costs. There are helpful features to explain to you what must be done in order to reduce the cost of posts. Typically, the more marketing you put into a post the higher the cost per post will be.

Facebook PPC

Facebook has one of the most popular PPC programs on the internet. Adwords is the most popular one, and it’s how the search engine giant Google makes most of their money. The main difference between the PPC programs of Facebook and Google is that the former has a much lower cost per click. This isn’t true for all the keywords, but it is for most. Facebook has a number of features which allow you to monitor and predict how much money will be spent each day. For example, if you want 100 clicks per day on a bunch of keywords then you will be given an estimated figure regarding how much you’ll need to pay. Alternatively, you can choose how much you are willing to spend on each keyword per day, and then you will be given an estimate on how many clicks you will get in return.

There are PPC management programs out there which you can make use of to handle all of your campaigns. This is typically required if you are advertising hundreds of products on a daily basis and need some solution for optimum efficiency. An expert from Search Engine Land explains further:

Deciding whether or not your company needs an enterprise-level PPC platform calls for the same evaluative steps involved in any software adoption, including a comprehensive self-assessment of your organization’s business needs, staff capabilities, management support, and financial resources.

Using An Internet Marketing Service

Instead of running the campaigns yourself you could outsource all of the work to an internet marketing agency. They would simply handle your funds for you, and in return you get the help of experienced professionals. For any given niche there are thousands of keywords to aim for, but knowing which ones will bring in the most sales is difficult. An expert on the other hand will have a knack for digging up those keywords that other people pass by. The investment of an internet marketing agency does pay off as long as you pick one diligently.

There are many internet marketing agencies out there, and not all of them can deliver the claims they make on their flashy homepages. Before hiring a service go and do some background checks on them to make sure they are legit. A good quality internet marketing service will have a comprehensive reputation online that you can investigate.

This can be done at the relevant forums and social media pages. Furthermore, ask a company what it is that they can do for you before you hire them. The more convincing they sound, and if they give examples of successful projects they have completed in the past then those are good signs.